Financial Morning News 27/08/2012


The General Index in Athens Stock Exchange (ASE) closed at 644.04 posting profits of 2.28%, in a turnover of €20.98mn.

The German Chancellor Ms. Angela Merkel said that Germany and France want Greece to stay in the euro zone and the country’s government will do everything to solve its problems. She added that Germany will wait for the troika report. The Prime Minister Mr. Antonis Samaras said that Greece intends to fulfil its obligations and is on the way to doing so. Greece is working to bring down its credibility deficit and asks for the country to be given a chance to breath.

According to Financial Times Deutschland newspaper, a working group led by Germany’s deputy finance minister is studying the possible economic impact of a Greek exit from the euro zone. At the same time, reports in the UK have referred to British government sources saying that the White House is pressuring the euro zone not to take any steps that could lead to Greece leaving the euro zone before the Presidential election in the US.

Economic releases

  • 08/29 PPI y-o-y July
  • 08/31 Retail Sales y-o-y June
  • Corporate releases

    • 08/21 08/27 Motor Oil H1’12 results (after-market). Est. profits: €71mn, est. EBITDA: €175.6mn
    • Corporate Impacts

      • Cypriot Banks: The Central Bank said that it had appointed professional services firm Alvarez & Marsal to investigate why the two largest banks had to seek state support.
      • Technical

        FTSE 20 September future:

          Support levels: 228-222-216. Resistance levels: 240-248-254.


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